Annual Value - Definition - Law Dictionary Home Dictionary Definition annual-value

Definition :

Annual value, annual rent at which the building may be expected to let, D.G. Gouse & Co. (Agents) Pvt. Ltd. v. State of Kerala, (1980) 2 SCC 410: AIR 1980 SC 271 (280).

Means, in relation to any land, the rent at which the land might reasonably be expected to let from year to year if the tenant undertook to pay all usual tenant's rates and taxes and to bear the costs of the repairs and insurance and the other expenses, if any, necessary to maintain the land in a State to command that rent, Halsbury's Laws of England, Vol. 19(2), 4th Edn., Para 1193, Note 3, p. 939.